Roark Capital, which owns Arby’s, to buy out Buffalo Wild Wings
Atlanta, Ga. – Arby’s, a very popular burger and sandwich chain, is buying one of the up and coming wings chain, Buffalo Wild Wings.
According to reports, the deal is worth $2,400,000,000.00. Roark Capital Group, which owns Arby’s, will pay $157.00 per share.
The buyout of Buffalo Wild Wings marks the end of a bad 2016 & 2017 for the eatery, which has seen falling sales due to rising prices on their chicken wings and the resignation of CEO Sally Smith in disgrace after she lost a legal battle during the summer.
Meanwhile, Arby’s has seen booming sales with the introduction of new sandwiches such as the already extremely popular chicken pepperoni parm sandwich. Their sales are also aided by their family friendly atmosphere and policies (i.e. prohibiting customers other than law enforcement or military personnel from carrying firearms into the establishment).
Although they are soon to be a subsidiary of Arby’s, Buffalo Wild Wings will continue to run as an independent brand, which is very good news for fans of the restaurant.
Arby’s is not the only one who stands to benefit from this deal. Wendy’s stands to make $450,000,000+ from the deal as well. Wendy’s owns 18% of Arby’s.